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Pay off the mortgage, or keep investing

Last updated October 18, 2026

Up to four ways to pay the loan on a home you keep, ranked by the monthly paycheck each one leaves you: keep the schedule, pay extra each month, pay it off at retirement, or pay it off now.

Paying extra or paying off early saves interest, but the money stops growing in your accounts. Which matters more depends on your loan's rate, your investments, your taxes and when you retire, so the tool runs each option through your whole plan.

Before you retire, an extra payment comes out of what you would otherwise save, and a payment you no longer make after paying off early is saved instead. From retirement, your housing cost drops to the after-payoff figure in the year the loan ends.

Paying off at retirement or now takes the balance from your accounts in that year, with any tax on the withdrawal. "Pay it off now" is offered only if your cash and investment accounts could cover it.

"Paid off at" and "Interest still to pay" are exact, from the loan's own schedule. The paycheck and chance of success are simulated, like every other Compare tool.